HLIT vs RMT: Correlation
How closely do Harmonic Inc. (HLIT) and Royce Micro-Cap Trust, Inc. (RMT) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLIT and RMT?
Across a 3-year window, the weekly returns of HLIT and RMT correlate at 0.49, moderate. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 470.1 %².
Few assets follow HLIT as closely as RMT, which ranks #3 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months RMT outperformed by 19.0 percentage points (+29.4% for HLIT against +48.4% for RMT). One caveat on sizing: HLIT is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
HLIT vs RMT: side by side
| HLIT (Harmonic Inc.) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +29.4% | +48.4% |
| 5-year return | +34.2% | +80.1% |
| Volatility (ann.) | 46.9% | 20.5% |
| Beta vs S&P 500 | 1.41 | 1.09 |
| Max drawdown (3Y) | -44.3% | -26.4% |
| Market cap | $1.3B | $0.8B |
| P/E (trailing) | 51.2 | 8.5 |
| Dividend yield | 0.00% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLIT | RMT |
|---|---|---|
| 2022 | +11.4% | -16.8% |
| 2023 | -0.5% | +15.8% |
| 2024 | +1.5% | +14.0% |
| 2025 | -25.2% | +16.1% |
| 2026 | +24.2% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLIT and RMT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HLIT and RMT?
The HLIT/RMT correlation stands at 0.49 on a 3-year window (1 year: 0.58, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is RMT a good diversifier for HLIT?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: HLIT correlations · RMT correlations
